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Dec 18, 2012
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hopes that that deal on the fiscal cliff would be reached stateside. green across the board, but a lot of regional factors that play, as well, in japan. the shen zinzo abe trade is stin play. the kospi, a little caution here. the kospi now sitting shy at about seven points from that 2,000 thresholds. grater china markets, these were volatile today. about .1%. this market has been rallying over the last few weeks. for the month of december, its up nearly 10%. there's skepticism over whether it can last. keep in mind, this is still the worst performing market in asia under water to the tune of less than 2% now. ia is in focus after aig sold its stake for about $6.5 billion. aia fell, but not too much because this was flagged, of course. in australia, the asx 200 at a new three-month high. we had minutes from the reserve bank of australia giving hope to market watchers that we could see some interest rate cuts next year. the sensex up .6% at the moment after a disappointing announcement from the reserve bank of india. back to you, kelly. >> thank you so m
hopes that that deal on the fiscal cliff would be reached stateside. green across the board, but a lot of regional factors that play, as well, in japan. the shen zinzo abe trade is stin play. the kospi, a little caution here. the kospi now sitting shy at about seven points from that 2,000 thresholds. grater china markets, these were volatile today. about .1%. this market has been rallying over the last few weeks. for the month of december, its up nearly 10%. there's skepticism over whether it...
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Dec 26, 2012
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and not deal with the fiscal cliff but deal with spending bills to clean up new york and connecticut and new jersey from hurricane sandy and reauthorize some intelligence bills. so i mean, there's no real deal in the offing. there's nothing going on behind the scenes that would lead us to believe that anything would get done before january 1. >> all right. josh, out to you. obviously a lot of the discussion has been around the kind of deal that we would get if we do get something. if a deal does come through, it -- more likely will not be comprehensive, right? there's going to be a lot of negotiating that occurs after the first of the year. i guess my question to you is, does this leave the markets open to turmoil and more volatility as we head into january? >> the markets are going to be left open to turmoil and volatility, period. what we've seen is that despite the stakes getting higher, this isn't a game of poker but one of go fish. and no one seems to be fishing their wish. republicans are working with a weaker hand because they have to do a deal that involves a greater democrat
and not deal with the fiscal cliff but deal with spending bills to clean up new york and connecticut and new jersey from hurricane sandy and reauthorize some intelligence bills. so i mean, there's no real deal in the offing. there's nothing going on behind the scenes that would lead us to believe that anything would get done before january 1. >> all right. josh, out to you. obviously a lot of the discussion has been around the kind of deal that we would get if we do get something. if a...
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Nov 28, 2012
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congress remains at odds over a budget deal to avoid the fiscal cliff. markets were spooked yesterday when senate majority leader harry reid said little progress has been made. today the president speaks at about 11:30 eastern on how potential tax hikes will hurt the middle class. he'll then meet with a second group of ceos at quarter of 5:00 p.m. to get their input on how to solve the fiscal crisis. that group will include brian roberts, doug olberhaman and marisa meyer. james gorman has been enlisting the help of his employees in the fight over the fiscal cliff. "the wall street journal" reports that he asked the bank's more than 16,000 financial advisers to urge their congressmen to reach a bipartisan compromise on a budget deal. gorman says no issue is more critical right now for the u.s. economy, the global financial markets and the financial well-being of our clients. jeff, hi. >> hi. >> pretty extraordinary that james gorman is putting this memo out to his employees, but the fiscal cliff appears to be the issue the global markets are most concerne
congress remains at odds over a budget deal to avoid the fiscal cliff. markets were spooked yesterday when senate majority leader harry reid said little progress has been made. today the president speaks at about 11:30 eastern on how potential tax hikes will hurt the middle class. he'll then meet with a second group of ceos at quarter of 5:00 p.m. to get their input on how to solve the fiscal crisis. that group will include brian roberts, doug olberhaman and marisa meyer. james gorman has been...
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Nov 13, 2012
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. >>> and the countdown to fiscal cliff begins. congress continues to work where skr just seven weeks to reach a deal. >> and vodaphone shares fall after it takes a mitt in its spanish and italian businesses. >>> lot of breaking newses including the iea report following the big report yesterday. >> overtaking saudi arabia is getting a buzz. >> but a monthly basis, global oil demand cut by -- to 90.1 million barrels a day. impact of hurricane sandy in the u.s., reduced, as well. crude oil supply dipped to a nine month low. so the demand being cut, patrick armstrong is where us, managing partner at investment managers. but that's clearly because of global weakness -- well, economic weakness in europe and hurricane impact. >> definitely. year over year, oil demand is up. we've had very weak economy in europe. not much growth in the united states. but i think that's the trend we'll be playing out for the next few years. >> oil 110 at the moment. is that a fair price? >> there's premium built in because of geopolitical risks. i think pr
. >>> and the countdown to fiscal cliff begins. congress continues to work where skr just seven weeks to reach a deal. >> and vodaphone shares fall after it takes a mitt in its spanish and italian businesses. >>> lot of breaking newses including the iea report following the big report yesterday. >> overtaking saudi arabia is getting a buzz. >> but a monthly basis, global oil demand cut by -- to 90.1 million barrels a day. impact of hurricane sandy in the...
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Dec 27, 2012
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to avoid the fiscal cliff. the yen hits a two-year low against the dollar as the japanese government battles to weaken deflation and the currency. >>> and shares in toyota end higher after the u.s. settles a class action lawsuit for $1 billion. >>> and here is a look at today's other top stories. new japanese prime minister shinzo abe has vowed to battle deflation in the strong yen. the 58-year-old has promised aaggressive monetary easying by the bank of japan. meanwhile, the bank of japan was issues. one option considered was an open-ended commitment to buy ass assets. customers brought the case against toyota, claiming certain models accelerated unintention equally. 16 million vehicles are covered by this action, including popular models like the camry and toyota. toyota shares were rallying on the news, up about 1.3% in trade today. >>> the season of good wills has seemed to pass tech firms by. sang sung is seeking the bail of exports of ericsson products. the action follows a suit and similar blames just ke
to avoid the fiscal cliff. the yen hits a two-year low against the dollar as the japanese government battles to weaken deflation and the currency. >>> and shares in toyota end higher after the u.s. settles a class action lawsuit for $1 billion. >>> and here is a look at today's other top stories. new japanese prime minister shinzo abe has vowed to battle deflation in the strong yen. the 58-year-old has promised aaggressive monetary easying by the bank of japan. meanwhile, the...
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Nov 19, 2012
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dreaded fiscal cliff. we'll bring you the latest out of the u.s. [ female announcer ] want to spend less and retire with more? at e-trade, our free online tools and retirement specialists can help you build a personalized plan and execute it with a wide range of low cost investments. get a great plan and low cost investments at e-trade. . >>> welcome back. you're still watching "worldwide exchange." these are your headlines from around the world. stocks bouncing, beginning the week in the green. hopes of a resolution on the fiscal cliff. barack obama praises myanmar's shift to democracy in a first ever trip by a serving u.s. president to the country. he cautions his trip should not be seen as endorse him ment of government. and ban ki-moon is heading to cairo for emergency negotiations. if you're just tuning in, thank you very much for joinings you. also a pleasure to have you with us. what we're looking at today in market trade, a bounce in europe. dow set to hope higher in the 60, 70 points. nasdaq by ap
dreaded fiscal cliff. we'll bring you the latest out of the u.s. [ female announcer ] want to spend less and retire with more? at e-trade, our free online tools and retirement specialists can help you build a personalized plan and execute it with a wide range of low cost investments. get a great plan and low cost investments at e-trade. . >>> welcome back. you're still watching "worldwide exchange." these are your headlines from around the world. stocks bouncing, beginning...
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Nov 16, 2012
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the fiscal cliff. he'll meet with harry reid, mitch mcconnell, john boehner and nancy pelosi at quarter after 10:00 eastern time. mcconnell says republicans won't raise tax rates. the white house says the president won't sign an extension of tax cuts for top earners. chinese officials including the country's vice minister are sounding alarm bells with external risks to growth. they hope the uts will come to an agreement on tax issues or warns the country could face a slide into deep recession. eunice yoom is taking a closer look at the relationship between the two economic super powers and how they're likely to proceed. >> she's sitting down to her regular taste of americana. she and her co-workers dine out at their favorite fast food joint from the west twice a week, exactly the kind of middle income chinese american companies hope will drive their future growth. >> translator: we're used to eating rice, she says. it's convenient and nice to have fast food once in a while and have a change. american c
the fiscal cliff. he'll meet with harry reid, mitch mcconnell, john boehner and nancy pelosi at quarter after 10:00 eastern time. mcconnell says republicans won't raise tax rates. the white house says the president won't sign an extension of tax cuts for top earners. chinese officials including the country's vice minister are sounding alarm bells with external risks to growth. they hope the uts will come to an agreement on tax issues or warns the country could face a slide into deep recession....
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Dec 31, 2012
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will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> well, of course, it isn't just the fiscal cliff we're counting down to. it's new year's eve and we want to say happy new year to everyone who is joining us or watching the program here today. earlier, we asked have you made any resolution, trade or otherwise, for 2013. we've got a couple at least. one here from jeff who says i resolve to invest in pets and pampering. petsmart people love pets and profit from it. that's true, actually.
will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence....
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Nov 8, 2012
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political leaders are promise to go avoid the ever looming fiscal cliff. john boehner said he'd pursue a deal with president obama that would include higher taxes under quote/unquote the right conditions to help. our next guest says obama's victory will lead to a risk on phase in markets especially when it comes to the u.s. dollar. joining us is dara mahr. >> it lasted for about 20 minutes, didn't it? we did say it would show how preoccupied the market is with this fiscal cliff. bam, bernanke, no china standoff, if that faded that quickly, it really just und underlines how important this fiscal cliff is for markets going forward. >> so much of the selling pressure we saw yesterday came during the european session and again today, we're seeing europe fall sharply not necessarily on what's happening out of the u.s., but apparently concerns about spain. >> yeah, i think we've had a confluence of events here. we had soft german numbers, we had draghi saying germany's been dragged into this eurozone crisis and i'm ready to buy bonds that won't push up inflation
political leaders are promise to go avoid the ever looming fiscal cliff. john boehner said he'd pursue a deal with president obama that would include higher taxes under quote/unquote the right conditions to help. our next guest says obama's victory will lead to a risk on phase in markets especially when it comes to the u.s. dollar. joining us is dara mahr. >> it lasted for about 20 minutes, didn't it? we did say it would show how preoccupied the market is with this fiscal cliff. bam,...
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Nov 9, 2012
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i have fiscal fatigue. i'm so tired of talking about the fiscal cliff and i wonder given how much we've already discussed it, now that we're entering this critical period, to you get the sense perhaps that there is fatigue broadly speaking some is there another urgency, is this big scary event that everyone makes it out to be or did we all know we were going to reach some sort of ugly compromise? >> it has been hanging around for a long time. but is it important, yes, it is. if the full cliff hits and the u.s. falls off it the u.s. will go back into recession. it will take 3% off gdp growth relative to what would otherwise happen. so it is a massive issue. and i think there is going to be enough urgency to solve it because no one wants to send the u.s. back into recession. >> sean, what do you expect to hear from the president today? >> it will be interesting to see whether he holds the line on whether tax increases are the answer here. you know, democrats have been clear about their decision to let the bus
i have fiscal fatigue. i'm so tired of talking about the fiscal cliff and i wonder given how much we've already discussed it, now that we're entering this critical period, to you get the sense perhaps that there is fatigue broadly speaking some is there another urgency, is this big scary event that everyone makes it out to be or did we all know we were going to reach some sort of ugly compromise? >> it has been hanging around for a long time. but is it important, yes, it is. if the full...
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Nov 6, 2012
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i think we do get some sort of deal to overt the bulk of the fiscal cliff. maybe 1% to 1.5% drag instead of the 3.5 it looks to be now. but if you have a romney win, maybe that's different. maybe we don't get that resolved here the end of this year and it drags out into early next year because of the complexion of washington and what happens in the senate. that could create more uncertainty for the market. so very difficult to say, but we'll know hopefully in the next 24 hours what the complexion in washington will look like and whether we're likely to get a deal it in the lame duck session or not. >> to your point, it does seem especially if any agreement is likely to kick the issue down the road for only 6 or 12 months, we've been talking about the fiscal cliff and about these issues for years and with each temporary extension, the extension itself seems to be getting shorter. it makes the number of times that we have to go on about this issue all the greater. come wednesday the only thing that will change is we'll be talking yet more about what the prospe
i think we do get some sort of deal to overt the bulk of the fiscal cliff. maybe 1% to 1.5% drag instead of the 3.5 it looks to be now. but if you have a romney win, maybe that's different. maybe we don't get that resolved here the end of this year and it drags out into early next year because of the complexion of washington and what happens in the senate. that could create more uncertainty for the market. so very difficult to say, but we'll know hopefully in the next 24 hours what the...
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Dec 5, 2012
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henry kravis says the fiscal cliff is main reason investing isn't happening. he says many companies are rushing to close deals before the end of the year because they're concerned about whether capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue and if businessmen go into the room they could solve the problem an awful lot faster than congress. ken cayman is president of macadian asset management. i presume you share the sentiments -- i think we probably all do share the sentiments of mr. kravis. what would you do? >> well, listen, i think when you look at how businessmen make decisions, they have to live with the outcome of the decisions. politicians unfortunately make one decision, move on, and make another one. they don't live and die by any one decision. so i actually agree. ic that if all they did was have to focus on this one issue, we'd get a better result. but that's not the way government works. they get briefed on economic stuff one minute and they run into a meeting and get briefed on the mating habits of a spotted owl or s
henry kravis says the fiscal cliff is main reason investing isn't happening. he says many companies are rushing to close deals before the end of the year because they're concerned about whether capital gains tax will rise. he says the fiscal cliff shouldn't be a big issue and if businessmen go into the room they could solve the problem an awful lot faster than congress. ken cayman is president of macadian asset management. i presume you share the sentiments -- i think we probably all do share...
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Dec 24, 2012
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still no deal to avert the fiscal cliff.
still no deal to avert the fiscal cliff.
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Dec 3, 2012
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fiscal cliff hanger. there's now less than a month left for washington to broker a deal. in global market news, a survey suggests that china's giant manufacturing sector has moved into expansion territory now again for the first time in more than a year. and on the corporate front, ubs is reportedly near a settlement with the u.s. and uk over those libor claims. it's monday, a new month for us here, december 3rd, 2012, and "squawk box" begins right now.
fiscal cliff hanger. there's now less than a month left for washington to broker a deal. in global market news, a survey suggests that china's giant manufacturing sector has moved into expansion territory now again for the first time in more than a year. and on the corporate front, ubs is reportedly near a settlement with the u.s. and uk over those libor claims. it's monday, a new month for us here, december 3rd, 2012, and "squawk box" begins right now.
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Nov 15, 2012
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. >> any deal would be positive, but the market wants to avoid ale roing fiscal cliff. we don't want a partial agreement. we want something closer to the grand bargain. and that grand bargain is something that says democrats are hope to entitlement reform and tax reform. >> do you really think we'll get there? >> not totally in one fell swoop, but the grand bargain that was on the table for the debt ceiling goesh yanegotiatio was something that would amount to a significant down payment on getting medium term debt sustainability. it's not the full solution, but you're looking for something that tells the market we can make this work even though i'd logically we're very different. >> because they're not the only ones who would like to avoid the rolling fiscal cliff as you say. >> that's right. >> more with michael in just a second. tune into cnbc later today for a very special event, maria bartiromo will sit down with the co-chairs of president obama's deficit commission in chicago. that's today at the 4:00 p.m. eastern. and still ahead, the latest fed minutes suggest a
. >> any deal would be positive, but the market wants to avoid ale roing fiscal cliff. we don't want a partial agreement. we want something closer to the grand bargain. and that grand bargain is something that says democrats are hope to entitlement reform and tax reform. >> do you really think we'll get there? >> not totally in one fell swoop, but the grand bargain that was on the table for the debt ceiling goesh yanegotiatio was something that would amount to a significant...
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Dec 10, 2012
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i think even the optimists think if we can get beyond the fiscal cliff it will be positive. but we have to get a long-term budget deficit deal done or we'll continue to be in the slow growth type of economy. >> it's clear everything wants the confidence going forward. when it comes to how they might react to any pressure in the near term, can you explain, you know, whether it's cutting back on capital spending or cutting back on hiring? how companies are taking these decisions into account. it's been one area of uncertainty lately. we've seen stronger payroll despite pullback in capital spending. is the outlook likely to be consistent with that? >> you know, again, i think we're sitting right on the precipice here. we've done this survey year in and year out for a number of years. we also do a cash indicator. i actually see some of this underlying optimism in this survey if congress and the administration can get their act together here. and i think that even in our survey, we looked at the first half of '13 being slow and then the second half picking up. so there is a lot o
i think even the optimists think if we can get beyond the fiscal cliff it will be positive. but we have to get a long-term budget deficit deal done or we'll continue to be in the slow growth type of economy. >> it's clear everything wants the confidence going forward. when it comes to how they might react to any pressure in the near term, can you explain, you know, whether it's cutting back on capital spending or cutting back on hiring? how companies are taking these decisions into...
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Dec 4, 2012
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fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white house. banking union talks taking central stage in brussels. finance ministers trying to find a deal. and australia central bank has cut interest rates to its lowest level since the financial crisis. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. . >>> jpmorgan says mr. bieber is welcome to play ping-pong anytime. and if you're looking for the city with the best quality of living in the world, then what you need to do is go to vienna. this according to mercer. just published its quality of life survey as zurich landed the number two spot. baghdad ranked last because of security and political inst
fiscal cliff talks set to drag ons as budget proposal by republicans dismissed by the white house. banking union talks taking central stage in brussels. finance ministers trying to find a deal. and australia central bank has cut interest rates to its lowest level since the financial crisis. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client...
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Dec 7, 2012
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the fiscal cliff still looming. new survey finds more than half of leading investment professionals expect a deal, though, before year end. but it's their opinions on what happens if a compromise isn't reached that is troubling. and sec warning to netflix raising questions about how
the fiscal cliff still looming. new survey finds more than half of leading investment professionals expect a deal, though, before year end. but it's their opinions on what happens if a compromise isn't reached that is troubling. and sec warning to netflix raising questions about how
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Oct 26, 2012
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coming back to the issue of fiscal cliff, one looks at a range of probabilities. the central case is that there will be an agreement irrespective of who becomes president that they will defer action on dealing with the fiscal cliff until probably the middle of next year and there seems to be a lot of work being dub behind the screens by bowles-simpson and it that's what i think they're really going for, so they have a good six to seven months to try to deal with this medium to long term fiscal problem in the united states. i would assign maybe 20% to the fiscal cliff occurring. and then you'll have a significant cap pull back in equity markets. i think the central belief is at least a sick month extension. >> so we're still just waiting for something to be solved. >> i think what will happen is that probably most of the recommendations made by the simpson-bowles committee will probably be agreed on. dependent upon whether you have a republican or democrat in the white house, there will be variance on fiscal policy. so for example if romney win, i think you will se
coming back to the issue of fiscal cliff, one looks at a range of probabilities. the central case is that there will be an agreement irrespective of who becomes president that they will defer action on dealing with the fiscal cliff until probably the middle of next year and there seems to be a lot of work being dub behind the screens by bowles-simpson and it that's what i think they're really going for, so they have a good six to seven months to try to deal with this medium to long term fiscal...
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Nov 7, 2012
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i'm highly confident that they will do a deal, and that the fiscal cliff will be a nonissue at the end of the day. but we do have to go through that bid ask process, which is going to be the next major focus in washington. >> james, research over here says whoever was going to be president, they reckon half the fiscal cliff would occur, which would be a tightening of 2% to 2.5% of gdp. if that were the case, how would investors react? >> i think that investors will take a wait and see attitude. at the moment, i just don't see that happening. i think that investors are focused on the fundamentals of the u.s. economy and what it takes to keep the u.s. economy from sliding into recession. like wise, washington is very focused on that, too. so i think that the trend here, the expectation is that we'll postpone most of the major decisions until some sort of structured tax reform process next year. we'll make whatever down papal we need to make on the budget sequester in order to postpone that decision, too. the real question is really what you do with tax rates, particularly the upper incom
i'm highly confident that they will do a deal, and that the fiscal cliff will be a nonissue at the end of the day. but we do have to go through that bid ask process, which is going to be the next major focus in washington. >> james, research over here says whoever was going to be president, they reckon half the fiscal cliff would occur, which would be a tightening of 2% to 2.5% of gdp. if that were the case, how would investors react? >> i think that investors will take a wait and...
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Nov 29, 2012
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avoid the fiscal cliff. mining giant rio tinto plans to reign in spending by $7 billion, but still promises to beef up iron ore output. uk banks bracing for possible new rules. and hitting the jackpot, the search is on for the lucky winners of the power ball lockry as two tickets matched all the the numbers. >>> look at the yields falling to 5.22 and 4.5% respectively. italy was town break the 4.5% mark earlier. euro-dollar is rebounding. dollar-yen also moving higher. aussie dollar was an underperformer. gold prices have stabilized. what did the volatile prices mean? we're joined by scott evans. scott, welcome. the extra ordinary move yesterday in gold wasn't so much the decline as the nature of it. we saw a sharp falloff in gold and other commodities. broadly speaking, volatility when it comes to the metals, is it an important part of the thesis for mining stocks? >> i think less so. it's more of a short to medium term call. it's much more to do on with a positive on rios, as well. if you look across the u
avoid the fiscal cliff. mining giant rio tinto plans to reign in spending by $7 billion, but still promises to beef up iron ore output. uk banks bracing for possible new rules. and hitting the jackpot, the search is on for the lucky winners of the power ball lockry as two tickets matched all the the numbers. >>> look at the yields falling to 5.22 and 4.5% respectively. italy was town break the 4.5% mark earlier. euro-dollar is rebounding. dollar-yen also moving higher. aussie dollar...
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Dec 17, 2012
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will avoid going over the fiscal cliff. >> time is running out. now shares in spain's santander and banesto have resumed trading after the country's largest bank announced a deal to absorb its subsidiary. you can see santander shares down about 1% and banesto up about 21% which is interesting because i think the premium that santander was offering was closer to 25%. perhaps it was already priced in. nevertheless, 21.5% to 3.64 a share. santander will close some banesto branches once the takeover is complete. and the deal values banesto at 3.73 billion euros and that's about .25%, 24.9% to friday's closing fray. >>> like-for-like sales in november, the swedish fashion giant sales total sales are up 7%. and the results would ease concerns. the big discounts are weighing on the bottom line. the stock, as a result, up today, up 2.75%, which is a big outperformances in europe. >>> and faps of pressed pork slathered in barbecue sauce, your wait is over. mcdonald's is bringing back the mcrib sandwich. the fast food chain may be looking to grease up its d
will avoid going over the fiscal cliff. >> time is running out. now shares in spain's santander and banesto have resumed trading after the country's largest bank announced a deal to absorb its subsidiary. you can see santander shares down about 1% and banesto up about 21% which is interesting because i think the premium that santander was offering was closer to 25%. perhaps it was already priced in. nevertheless, 21.5% to 3.64 a share. santander will close some banesto branches once the...
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Nov 27, 2012
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a deal whether be done to overt the fiscal cliff. the tricky part is the second part of the deal. averting the cliff is relatively easy. the second part is putting in place a medium term plan to really soft problems. >> of course especially with the dell ceiling looming, in your view, does it matter whether the deal is reached through spending cuts or tax increases? >> from an economic point of view, no. i just want to see that deficit can down to something that's much more stable. at the moment, in the cliff is averted, u.s. debt could spiral up towards 90% of gdp, which would bring around some problems. we want to see as an economist the budget balance really. in terms of a split between revenues and government spending cuts, aim fairly neutral. i just want to see something done. >> something done near term and longer term. we'll also talk about the consumer outlook in a second. paul will stay with us. still to come on the show, u.p.s. will be very busy this holiday season delivering as many as 300 passengers per second as we approach christmas. the company put drivers through t
a deal whether be done to overt the fiscal cliff. the tricky part is the second part of the deal. averting the cliff is relatively easy. the second part is putting in place a medium term plan to really soft problems. >> of course especially with the dell ceiling looming, in your view, does it matter whether the deal is reached through spending cuts or tax increases? >> from an economic point of view, no. i just want to see that deficit can down to something that's much more stable....
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Dec 12, 2012
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still trying to avoid the fiscal cliff. president obama says he expects a deal before the year is out. and both sides traded offers yesterday. the markets are watching every move. >>> today is decision day for the fed. central bank announced another round of bond buying. we look ahead to the news conference with ben bernanke. >>> and michigan's governor makes history, turning a one-time union powerhouse
still trying to avoid the fiscal cliff. president obama says he expects a deal before the year is out. and both sides traded offers yesterday. the markets are watching every move. >>> today is decision day for the fed. central bank announced another round of bond buying. we look ahead to the news conference with ben bernanke. >>> and michigan's governor makes history, turning a one-time union powerhouse
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Sep 20, 2012
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senators who attended the meeting say bernanke told them the fiscal cliff would be a severe negative shock to the economy.alysts put the shock at upwards of five percentage points. a senate panel will put high speed trading under the spotlight holding a hearing on whether it needs more regulation. the hearing comes in the wake of several technical glitches and trouble this year that has hurt investor confidence. including erroneous trades last month. investment firm executives are expected to bring up proposals to limit market disruptions. one is kill switches. and jcpenney ceo ron johnson said the second half of the year will be about as bad as the first for the department store chain. speaking to investors wednesday, john so that said the company's turn around plan would l. take time. since taking over late last year, he's remade penjcpenney's look in advertising. they've had a 21% drop in sales the first half of the year. shares are down almost 2% in early trade this morning. and another one to keep an eye on is daimler. seeing shares now down better than 3% this morning. this aft
senators who attended the meeting say bernanke told them the fiscal cliff would be a severe negative shock to the economy.alysts put the shock at upwards of five percentage points. a senate panel will put high speed trading under the spotlight holding a hearing on whether it needs more regulation. the hearing comes in the wake of several technical glitches and trouble this year that has hurt investor confidence. including erroneous trades last month. investment firm executives are expected to...
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Nov 20, 2012
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with the debt ceiling at the same time. >> if we get something that the deals with the fiscal cliff pushes gosh yag there is to 2013 on another grand bargain, who is to say that we don't end up here this time next year? >> i suppose is it feasible we might be back exactly the same position next year? >> i think this song and dance can continue for the next three month wills. and unfortunately, even if they were to do a one year extension, which is really bold, because i think everyone probably would agree a three month extension is possible, but if they were to do a one year extension, it still doesn't resolve anything. i think at some point, this is where the bond markets are going to be interesting. you mentioned about the done grade from france. and if they do not get it resolved by the middle of february, march, there's a risk for the u.s. to get downgraded, too. so all these things line up for urgency to get a plan in place. the question is can they actually do it. >> ben bernanke is speaking to the economic club of new york, he'll be talking about the recovery and policy. he w
with the debt ceiling at the same time. >> if we get something that the deals with the fiscal cliff pushes gosh yag there is to 2013 on another grand bargain, who is to say that we don't end up here this time next year? >> i suppose is it feasible we might be back exactly the same position next year? >> i think this song and dance can continue for the next three month wills. and unfortunately, even if they were to do a one year extension, which is really bold, because i think...
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Nov 26, 2012
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cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending cuts by the end of the year. >>> still to come, the miss crest shopping day of the year for online retailers. snapping up deals on big ike ket item. we'll get a look. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> today is cyber monday. analysts say it's not as big a day as it's been in past. so many people shopping online over the weekend. but com score still says sales might reach $1.5 billion. pierce, sunday it earlier, consumers appear to be on fire. >> kind of defies gravity a little bit. but with the consumer confidence data in the last three months, the consumer confidence numbers are up at five year highs. >> how do you tra
cliff so congress can work on on a bigger deal in 2013. but in an op-ed, republican senator bob corker says both sides need to carve out a $4 trillion package that includes both revenue hikes and spending cuts by the end of the year. >>> still to come, the miss crest shopping day of the year for online retailers. snapping up deals on big ike ket item. we'll get a look. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [...
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Nov 30, 2012
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and still around because still ahead, investors remain on edge over the looming, yes, fiscal cliff. but imf chief christine lagarde says she's hopeful for a deal. >>> draghi tells leaders not to rely solely on the ecb and chastises them for past mistakes. >> the crisis has shown that we were living in a fairy world in is a. sense we underestimated. >> germany finance minister warn as greek detaught could spell the end of the euro as lawmakers prepare to vote on new funds for athens. and japan has surprisingly strong industrial drought put in october and yet another stimulus package sending tokyo stocks to a seven month high. plus president obama takes his case for tax hikes for the wealthy to the american people today as the war of words between democrats and republicans over the fiscal cliff heats up. >>> today we're taking a look at where futures are positioned and the dow jones industrial average is trying to add about 13 points at the open. it's over that 13,000 level we've been watching. the nasdaq, s&p are also looking to finish the month slightly higher. interestingly enough,
and still around because still ahead, investors remain on edge over the looming, yes, fiscal cliff. but imf chief christine lagarde says she's hopeful for a deal. >>> draghi tells leaders not to rely solely on the ecb and chastises them for past mistakes. >> the crisis has shown that we were living in a fairy world in is a. sense we underestimated. >> germany finance minister warn as greek detaught could spell the end of the euro as lawmakers prepare to vote on new funds...
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Sep 14, 2012
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there's not an agreement to deal with the deficit. nevertheless, look at what's happening across markets. take a quick look first. reminder what we saw in the u.s. yesterday. the dow jones industrial average closing at four or five year highs. 13,487, just 4% blow its all time high in nominal terms. poisesed to add to that nevertheless today by another 30 points or so. s&p and nasdaq also edging higher. russell 2,000 yesterday posted its fifth highest closing high ever. all of this on incredibly high volume, as well. let's take a quick look at european markets. it's broadly consistent and again in the green by the rang of 1% to 2% in some cases. ftse up 1.4, cac 40 was up almost 2%, it's come off a little bit. ibex 35 still over that 2%s threshold. european banks are driving a lot of the gains, as well, as you look at anything from the spanish banks, up 2%, over here to credit agricole up closer to 3%. so, ross, it's not a huge move, but nevertheless for a move that frankly puts pressure on banks at least u.s. banks or net interest ma
there's not an agreement to deal with the deficit. nevertheless, look at what's happening across markets. take a quick look first. reminder what we saw in the u.s. yesterday. the dow jones industrial average closing at four or five year highs. 13,487, just 4% blow its all time high in nominal terms. poisesed to add to that nevertheless today by another 30 points or so. s&p and nasdaq also edging higher. russell 2,000 yesterday posted its fifth highest closing high ever. all of this on...
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Dec 28, 2012
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goes over its fiscal cliff. will lawmakers be able to put aside their differences and hammer out a deal to stave off most big tax hikes for the most americans? we'll head to washington next. >>> welcome back to "worldwide exchange." >> president obama calls congressional leaders to the white house in what could be the last chance to restart talks before the u.s. falls off the fiscal cliff next week. >>> a lackluster trading week of the year, but european equity markets are setd to post double digit earns for 2012. >>> and italy sold 6 billion ur he rows of longer dated paper. >>> and japan says other countries have no right to lecture japan on its currency policy. instead, calling for the u.s. to seek a stronger dollar. >>> let's check in on futures again and see if i can get the math right this time. dow jones industrial is poised to shed about 50 points at the open. similar declines with the nasdaq and the s&p 500. this would continue a string of lows which we've seen over the last four trading sessions. bette
goes over its fiscal cliff. will lawmakers be able to put aside their differences and hammer out a deal to stave off most big tax hikes for the most americans? we'll head to washington next. >>> welcome back to "worldwide exchange." >> president obama calls congressional leaders to the white house in what could be the last chance to restart talks before the u.s. falls off the fiscal cliff next week. >>> a lackluster trading week of the year, but european equity...
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Jul 18, 2012
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with in terms of taxes, spending and the economy in general. >> i'm more worried about the fiscal cliff but if i was a global investor i'd be more worried about the eu because they're not just talking about a recession. you're talking about a full-out depression if it should go pear-shaped. >> thanks for that optimistic tone this morning, gentlemen, but we appreciate the views, nevertheless. >>> that's about it for today's program. coming up next, of course, "squawk box", bernanke part two. >> focus on the interest rate on excess reserves. i wish every congressman would say, explain to us why cutting this would be a good idea? >> i'm more focused on the discount window idea. >> that's why you watch "worldwide exchange." >> whatever happens, we hope you have a profitable day. ♪ ♪ ♪ ♪ [ male announcer ] what's the point of an epa estimated 42 miles per gallon if the miles aren't interesting? the lexus ct hybrid. this is the pursuit of perfecti >>> good morning. delivering alpha, not seeking alpha, delivering it. the world's most famous hedge fund managers are gathering in new york
with in terms of taxes, spending and the economy in general. >> i'm more worried about the fiscal cliff but if i was a global investor i'd be more worried about the eu because they're not just talking about a recession. you're talking about a full-out depression if it should go pear-shaped. >> thanks for that optimistic tone this morning, gentlemen, but we appreciate the views, nevertheless. >>> that's about it for today's program. coming up next, of course, "squawk...
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Oct 1, 2012
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both budget experts and could play a major role in the looming fiscal cliff. >>> nokia's into another big customer for its mapping software. the "wall street journal" says the company will unveil a deal with oracle today in san francisco. nokia also recently signed deals with groupon and amazon. nokia a got into the map business with it purchase and has been expanding the service. and back to the banks, shares in banco have been suspended. the bank has announced it will report record write downs of 9.3 billion euro this is year and have suspended its dividend this month. julia has more reaction to what they're saying. they'll launch the share increase by mid november. do you think they can avoid having to ask for any government assistance? >> i think they're certainly going to try. but in terms of their market, it will be highly diluted, so it depends on how well it goes down with investors. the stock should open up in about ten minutes time. we've had a couple brokers lower their price. they also have also announced that they plan to see a capital increase of around 2 billion euros a
both budget experts and could play a major role in the looming fiscal cliff. >>> nokia's into another big customer for its mapping software. the "wall street journal" says the company will unveil a deal with oracle today in san francisco. nokia also recently signed deals with groupon and amazon. nokia a got into the map business with it purchase and has been expanding the service. and back to the banks, shares in banco have been suspended. the bank has announced it will...
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Jun 6, 2012
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. >> what i think we need to do is to find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now. and then deal with what's necessary in the long term debt reduction plan as soon as they can. >> that upset the president obama election campaign an asked him to correct his remarks. the former president doesn't believe wealtax cuts for the wealthiest should be extended. carly, do these comments indicate sort of a serious breach of etiquette here? is the point ultimately be we'll see an extension of the tax cuts one way or another? >> first i think president clinton is doing what he said the other day that he liked doing now that he's out of the white house which is speaking his mind. and secondly, i think president clinton forgets sometimes that obama thinks he's a surrogate for the presidential re-elect campaign. we ought to be calling these the bush-obama tax cuts. the truth is president obama a couple of wears ago also said that in a weak economic period that in a time when americans are hurting for jobs that no one should be raising taxes on a
. >> what i think we need to do is to find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now. and then deal with what's necessary in the long term debt reduction plan as soon as they can. >> that upset the president obama election campaign an asked him to correct his remarks. the former president doesn't believe wealtax cuts for the wealthiest should be extended. carly, do these comments indicate sort of a serious breach of etiquette...
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Dec 20, 2012
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the deal could be announced as early as today. >>> fiscal cliff negotiations and brinkmanship, republicans set to vote today on extending tax cuts for those making ls
the deal could be announced as early as today. >>> fiscal cliff negotiations and brinkmanship, republicans set to vote today on extending tax cuts for those making ls
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Aug 14, 2012
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we know the fiscal cliff is a huge challenge that we're facing late this year, early next year. and ryan's clearly got experience on the hill. can complement romney, like that. and i think wall street recognizes that obama's spending is in no way sustainable over time, and romney and ryan have the guts to tell that to the public. democrats come in with fearmongering. the romney/ryan solution doesn't bankrupt our grandkids and wall street likes that. people who are buying government bonds. and hopefully, they will succeed in spreading that message to the average voter. >> i would argue what wall street or what markets really like is growth. in fact, the risk here despite sort of the headliner that appealed to people who don't want these large debts and deficits nevertheless, if they do things significantly rein them in and hurt growth that will create more headwind for risk assets. >> right. it's a short term versus long term discussion. in the short term, wall street wants to avoid the fiscal cliff which would push us into recession early next year and most people expect a short
we know the fiscal cliff is a huge challenge that we're facing late this year, early next year. and ryan's clearly got experience on the hill. can complement romney, like that. and i think wall street recognizes that obama's spending is in no way sustainable over time, and romney and ryan have the guts to tell that to the public. democrats come in with fearmongering. the romney/ryan solution doesn't bankrupt our grandkids and wall street likes that. people who are buying government bonds. and...